Skaland: Europe's Largest Natural Graphite Producer Acquired by Norge Mining
Deal News | Dec 16, 2024 | PR Newswire Cision Norge Mining
Norge Mining Ltd, an Anglo-Norwegian company, has announced its acquisition of Skaland Graphite AS, Europe's largest producer of natural graphite, from the Australian mining company Mineral Commodities Ltd. This acquisition is a significant strategic movement for Norge Mining as it aims to enhance its portfolio of critical raw materials crucial for the green energy transition. The Skaland mine, located in northern Norway, is notable for its high-grade flake graphite and positions Norge Mining to capitalize on the increased demand for graphite, particularly in battery-grade applications for electric vehicles and energy storage. This acquisition comes amid China's recent export control restrictions on graphite, underscoring the necessity for a secure European supply chain for this strategic material. Norge Mining plans to complete the transaction in Q1 2025, following regulatory approvals.
Sectors
- Mining and Natural Resources
- Renewable Energy
- Strategic Materials and Supply Chain Management
Geography
- Norway – The Skaland mine, subject of the acquisition, is located in Norway, and Norge Mining has significant operations there.
- Europe – The acquisition impacts European supplies of critical raw materials, underscoring a strategic regional focus.
- China – China's export controls on graphite make European-based supply chains more strategic and essential.
Industry
- Mining and Natural Resources – The acquisition involves Skaland Graphite AS, a leading producer of natural graphite, and fits within the broader mining and resource extraction sector.
- Renewable Energy – Graphite's role in battery production for electric vehicles and energy storage is essential for renewable energy transitions.
- Strategic Materials and Supply Chain Management – The focus on securing supply chains for critical raw materials like graphite highlights importance in strategic materials.
Financials
- US$24 billion to US$38 billion – Projected growth in graphite global market value from 2022 to 2028.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Norge Mining Ltd | Acquirer | Company | Anglo-Norwegian mining company focused on critical raw material mining and supply in Europe. |
| Skaland Graphite AS | Target Company | Company | Europe's largest producer of natural graphite, located in Norway. |
| Mineral Commodities Ltd | Seller | Company | Australian mining company selling Skaland Graphite AS. |
| John Vergopoulos | CEO | Person | Chief Executive Officer of Norge Mining. |
| Burson Buchanan | PR and Communication | Company | Public relations advisors for Norge Mining. |